Limited Supply: Bitcoin has a capped supply of 21 million coins

Bitcoin's price is heavily influenced by supply and demand dynamics and speculative activities

Bitcoin's value can rise as a hedge against inflation, especially in times of economic

Increasing adoption by payment platforms like PayPal and growing acceptance

Institutional Investment: Publicly traded companies converting cash reserves to Bitcoin and institutional investors viewing

Media Influence: News, media hype, and influential figures can impact Bitcoin's price

Investor Actions: Wealthier investors holding significant amounts of Bitcoin can influence its price

Decentralization: Bitcoin's decentralized nature, lacking central bank control

Market Sentiments: Fear, greed, and varying beliefs in Bitcoin's utility as a store of value can drive investor behaviors